James Turk: Money Bubble About to Pop ~ Greg Hunter


Gold expert James Turk thinks the biggest bubble of all is long past its expiration date. Turk thinks this bubble will end like all bubbles. Turk predicts, “This money bubble is going to pop. It has to because there is just too much debt in the world. That debt has to be reconciled and, ultimately, when you are reconciling debt, it gets back to the point about collateral on the balance sheets. There is just not enough good collateral to support all of this paper money circulating out there.”

Turk also says there is way too many paper promises for the actual physical gold that can be delivered. So, in the future, Turk says, “I see a lot of these promises to deliver gold being broken and, ultimately, the only way you are going to see this being resolved is with a much higher gold price.” How high? Turk estimates, “You’ve got to be looking back to the all-time highs of $1,900 or $2,000 per ounce. We are eventually going to take those out. It’s just a question of when we do it. It’s obvious it is going to happen because gold has been money for 5,000 years and, ultimately, people will come back to gold when they realize that all these promises of bankers and central bankers really cannot be fulfilled. So, it is just a question of when that reconciliation comes. In March of 1968, the dam broke and the gold price was released and the gold price climbed for another 12 years. When the gold price finally gets released this time around, it’s going to climb for many, many more years. It’s hard to say how high it can go, but relative to the amount of paper that’s out there . . . a price several times higher than what we have today seems very, very reasonable in the long run.”

Join Greg Hunter as he interviews James Turk of GoldMoney.com.

All links can be found on USAWatchdog.com in the “After the Interview” section of this post. http://usawatchdog.com/prolonged-gold…

One Furious Greek Sums It All Up: “My Country & Its People Are Falling Apart” ~ ZeroHedge


Tyler Durden's picture

Submitted by KeepTalkingGreece,

I am speechless. Not since yesterday or last week. I have been speechless since July 13th when the Greek left-wing coalition government agreed to burden the country and the people with a new loan, the third bailout for Greece since 2010 together with the strictest austerity program ever. I have been speechless ever since and for  more than a week I thought I cannot blog anymore. I took me time to swallow and absorb the shock. And still. I am unable to deal with it.

I am unable to comprehend how a left-wing government ended up signing the worst austerity program ever. For the simple reason that if a left-wing government signs such an agreement, what should I expect from a right-wing or a neo-liberal government to do? Raid my apartment, steal my kitchen pans, my pottery cats collection and my underwear? When the left-wing government signs such an agreement, we can say that the political system in Greece is over. And there is no alternative.

First, we blamed the creditors for wanting to crack down SYRIZA in order to avoid creating other examples of the same kind within the eurozone. Then we blamed again the creditors and specifically German finance minister Schaeuble and his Grexit plan: 5 years bailouts, 5 years temporary Grexit, before Greece could return to the markets. That was original tone by Schaeuble in 2011. Then we blamed the disagreement between the IMF and Germany in terms of “Greek debt relief”.  And finally we blamed the ‘dilettantism of the Greek government” that sent to Eurogroup its economic team to explain to Greece’s creditors, how the Eurozone should be changed. It took Varoufakis & Co two months to understand that creditors are not in the mood to listen to some economic theories and revolutionary manifestos but that they simply wanted their money back.  All our blames were right and wrong at the same time because the game was f;ixed’ form the very beginning.

When the Greek team started to work on its proposals, it was too late. Schaeuble was determined to kick Greece out of the euro and furthermore to ‘help it’ bridge the Grexit time with a loan of some 50 billion euros. Either way, with or without euro, with or without drachma, with or without Schaeuble or SYRIZA, the result is the same: a third bailout of 50-84 billion euro and another bailout program. There is no hope for this country, for the people – at least, for some of them.

I really don’t care,if Varoufakis wears tasteless shirts and why he wanted to ‘hack’ taxpayers’ numbers while sitting with his team of skilled hackers and childhood friends. Varoufakis is not my cup of tea. He never was. But while our Greek life is falling apart day by day, I have to read Varoufakis’ interview Nr 2034 explaining his game theory and his academic hypothesis, hi smother’s story and his cousins pain. Frankly, my dear, I don’t give a dam. Frankly, my dear, I’m fed up.

I am also fed up listening to opposition lawmakers complaining about the Parliament Speaker and claiming “Zoi Konstantopoulou is torturing MPs with her pedantism.” I honestly don’t give a dam. Frankly, my dear, I’m fed up to see ‘tortured’ MPs earning €5,000+ per month and enjoy tax-free, while the rest of us is literally bleeding: financially, psychologically, physically and morally.

Neither do I care whether SYRIZA is falling apart, whether the Prime Minister wants early elections in September in order to secure a clear majority in Parliament so that he can pass the austerity bills that lead to nowhere.

I am deaf to government ministers and party officials and opposition lawmakers debating on whether Varoufakis should be indict for high or for low treason.

I just don’t care. It doesn’t affect my life, not even a tiny little bit. I give neither a a whole dam nor half of it for this so-called Greek political agenda after July 13th.

What do I care about is to watch my country and the people falling into pieces. I see our Greek lives suffering another ‘internal devaluation’ minute by minute, day by day, week by week. When the 3. bailout deal will be sealed by 15 or 20 August I will be also able to say “I see our Greek lives suffering another ‘internal devaluation’ minute by minute, day by day, week by week, month by month, year by year.”

The 40% internal devaluation settled in Greece since 2010, experiences a new peak even though the 3rd bailout has not been signed yet. The Capital Controls imposed on June 29th in order to save the banks from draining, have ruined the lives of many Greeks. Friends of mine who have been working for more than two decades in private companies, were “sent to enforced holiday” together with the banks: their full time job turned into 1 or maximum 2 days work per week. That is 4 or 8 work days per month. In relation, their also salary plunged by end of July.  Many employees in the private sector saw their working hours and already low salaries been reduced. How can these people get along without income? Nobody cares and nobody talks about. Neither national nor international media talk about it. We whisper these hazardous circumstances  among ourselves. In quiet. Because we are ashamed. And we wonder endlessly.

Others, plagued by long term unemployment and no perspective to get a job or even a pension, felt obliged to sell their home. That’s not possible under capital controls. The selling amount will remain in the bank and it may even fall victim to “deposits haircut” by the end of the year. Another friend who needs to sell her second flat  – an inheritance – so that she has money to live, cannot sell it either. Ten years ago, the flat was worth 130,000 euro. Now, if she finds a buyer she will have to sell it for 45,000-50,000 euro. She is trying to sell it for the last 1.5 year. Not a single buyer came around the corner.

With the new Value Added Tax hikes, the amount we need to spend for our weekly basic groceries now extra 15-20 euro. “Just 15 euro?” one may ask. Yes. That’s a huge amount, if you don’t have it and you have kids to feed and bills to pay. The 50-euro banknote that will go for groceries will be missed at the end of the month. Bills will remain unpaid, the extra for a health emergency, for example, will simply be not there. It’s either eat or die.

In hospitals and public health care the situation is going from worse to worst. Shortage of doctors, of nurses, of administration personnel, of material. You need a portion of fluid iron? Average waiting time is 3 days. The same for special creams, for this and that. You need some cotton? “Oh, not so much, please, a tiny piece,” the nurse tells you politely. Sometimes, the drugs or creams never come, you get the prescription upon exiting the hospital.

In the night shift a single nurse is in charge for 40-50 patients, even in the public hospital they proudly call “the biggest in Greece, in the whole Balkans, indeed.”  Neither this nor the previous governments managed to raise the working hours of civil servants.

Patients that need night care need to hire a private nurse. They charge €8.5 per hour,  €55 for six and a half hours, and one nice green 100-euro banknote on Saturdays. Union rights as before the crisis. Is this the competitiveness the Troika has been talking about? They work at fixed shifts and by the clock: 11:00 pm to 5:40 am, for example. A 24-hours care will cost you more than 200 euro, the overtime they charge is without receipt. One day, the doctor sends you home, half fixed, half broken and totally broke. Then you will need to consult another doctor and get skilled caretakers at home, all paid by your own pocket. Or lay down and die.

A pair of low-pensioners next door with a bed-ridden and dementia-sick wife  have been going in and out the hospitals for the last 5 months. The woman needs 24/7 care but they cannot afford neither a caretaker or even better a care home for the elderly. Their last savings were spent on private nurses when the woman was hospitalized. The man was in shock and awe when he heard that they both will have 20-euro less because of the rises in health care contributions. The man was in such a shock that he forgot to go pick up their pensions on Friday. And on Monday.

And then I read about the Financial Crimes Units (SDOE) that have caught in flagranti tourism businesses with fake cash registers in Mykonos and Santorini. Cash registers that have not been registered to the tax office. The customer gets his receipt, but the businessman pockets the money without giving the state the V.A.T. or taxes. The Finance Ministry got alarmed from this new phenomenon of tax evasion by the evergreen smart “Greeks”.  But “personnel shortage” hinders a raid to all fake cash registers… One of the fake cash registers was located in Mykonos, two in Santorini, two of the richest islands of Greece. In fact: in the richest regions of the debt-ridden country with impoverished families and ruined economy.

And then, I get this damned feeling that I live on another planet in a far away universe. And I want to stay there forever. In a bubble. Away from this Greece, where half of its population starves and is in dire need and the other half, the ‘clever Greeks’ keep cheating and evading taxes and enjoy a real life of fake registration and exorbitant per hour charge, away from austerity agreements, Troika’s demands and the hateful “Mnimonia” (memoranda) as they take advantage of the shortages of the public system.

http://www.zerohedge.com/news/2015-08-04/one-furious-greek-sums-it-all-my-country-its-people-are-falling-apart

NEWS AND VIEWS FROM THE NEFARIUM JULY 30 2015 ~ Joseph Farrell


Russia and China both enact legislation against non-government organizations (NGOs) which have been the principal agents of US soft power and covert operations since the Reagan administration. But there’s more possibilities to the story as Joseph outlines in today’s high octane speculation from the Nefarium:

https://www.rt.com/politics/310958-us…

http://www.globalresearch.ca/chinas-n…

Cecil The Lion And Wolves Honored In Spectacular Empire State Building Tribute


Wow!!

Cecil the lion and other endangered animals (Including Wolves) are projected on to Empire State Building

The Empire State Building broadcast images of endangered animals to New Yorkers on Saturday in a video projection said to be the first-of-its-kind.

At one point an image of Cecil the Lion, whose death at the hands of an American hunter last month caused international outrage, was broadcast in a picture more than 350 feet tall and 180 feet wide.

In total 160 species of endangered animals including birds, tigers, leopards and bears were shown at the event, which was meant to spark conversations about mass extinction, according to NBC New York.

The images were put up over 33 floors of the building for three hours using 40 projectors stacked together at a rooftop two blocks away.

The landmark is decorated with lights of different colors for various holidays, though organizers said Saturday night marked the first time that such as video projection had been done. The show was organized as part of a promotion for a new Discovery Channel documentary, Racing Extinction, which is set to air in December.
 Source

VIDEO

http://www.facebook.com/plugins/like.php?href=http://www.whitewolfpack.com/2015/08/cecil-lion-and-wolves-honored-in.html&layout=standard&show_faces=true&width=500&action=like&font=arial&colorscheme=dark
http://www.whitewolfpack.com/2015/08/cecil-lion-and-wolves-honored-in.html


Greek Stocks, Economy Collapse, Suffer Worst Declines In History


Tyler Durden's picture

The Athens Stock Exchange reopened on Monday and unsurprisingly, some folks were selling.

Trading was suspended five weeks ago after PM Alexis Tsipras’ dramatic midnight referendum call precipitated capital controls and a lengthy bank “holiday.” Shares opened lower by nearly 23% and the country’s banks traded limit-down, which makes sense because they are, after all, largely insolvent. Here’s NY Times:

The Athens Stock Exchange plunged 22.8 percent when it reopened on Monday after a five-week shutdown imposed by Greek authorities as part of efforts to prevent a financial collapse.

Bank stocks, which are particularly vulnerable as Greek lenders are set for new recapitalization in the coming months, took a battering, falling by as much as 30 percent.

Although foreign investors face no restrictions in the Athens exchange, local traders can only use existing cash holdings to buy shares; they are prohibited from tapping local bank deposits to buy shares as the authorities seek to prevent capital flight.

Asked about the harrowing decline, European Commission spokeswoman Mina Andreeva had no comment but did say that Brussels has “taken note” of the reopening. Amusingly, she also said the decision was made by “competent” Greek officials. A ban on short-selling was due to expire on Monday but will be extended, an unnamed official told Reuters.

Meanwhile, monthly PMI data from Markit confirmed that the Greek economy suffered an outright collapse in July. Last month marked the 11th consecutive month of contraction, but it was the depth of the downturn that was truly shocking as the index plummeted to 30.2 from 46.9 in June. It was the lowest print on record. New orders plunged to 17.9 from 43.2.

“July saw factory production in Greece contract sharply amid an unprecedented drop in new orders and difficulties in purchasing raw materials,” Markit said. Here’s more from the report:

Record contractions were registered for almost all variables monitored by the survey, including output, new orders, employment and stocks. 

The drop in output in July was led by the capital goods sector, while there were also sharp contractions in the production of intermediate and consumer goods. The latest decrease in output was the seventh in successive months.

July’s sharp decrease in the level of new business at manufacturers surpassed the previous record set in February 2012. Panel members commented on the impact of capital controls on demand, and also cited a generally uncertain operating environment which further weighed on sales. A sharp and accelerated decrease in new export orders (also a series record) added to the overall reduction in new work. 

Manufacturers’ buying levels decreased to the greatest extent in the survey’s history in July. Panel member reports indicated that companies commonly faced difficulties sourcing inputs due to capital restrictions and the limited availability of some items. Accordingly, stocks of purchases contracted sharply on the month, as did postproduction inventories. 

The troubles goods producers had in obtaining inputs was further highlighted by a marked increase in average supplier delivery times. The degree of deterioration in vendor performance was by far the most pronounced in the series history. Panellists mentioned in particular the difficulty in receiving items from abroad. 

July’s survey signalled the steepest drop in factory employment ever recorded during the 16-plus years of data collection. 

Note that the commentary here underscores what we’ve been warning about since the imposition of capital controls; namely that an acute credit crunch would eventually lead to a shortage of imported goods.

The data is also emblematic of the sheer desperation that’s taken hold. “Although manufacturing represents only a small proportion of Greece’s total productive output, the sheer magnitude of the downturn sends a worrying signal for the health of the economy as a whole,” Markit’s Phil Smith said.

Yes it most certainly does, and indeed, as we noted last week, there may be no modern economy left in Greece by the time this is all over as many Greeks have already reverted to the barter system in an effort to grease the wheels of commerce and skirt the frozen banking system.

So in sum, a complete and total disaster on all fronts to start the week. And because this is Greece we’re talking about, we’ll give the last word here to Socrates:

Via Bloomberg and ForexLive:

Share price falls seen after open are logical given 5-week close Athens Stock Exchange CEO Socrates Lazaridis says in Bloomberg TV interview with Hans Nichols.

ASE doesn’t expect at this point in time any companies to express wish to move listing from Greek exchange.

Expects some shares to bounce tomorrow.

http://www.zerohedge.com/news/2015-08-03/greek-stocks-economy-collapse-suffer-worst-declines-history

Delta Air Lines Bans Big Game Hunting Trophies


As world outrage over Cecil the Lion’s death grows, one of the largest U.S. airlines tells hunters to find another way to bring home the bodies of lions, tigers, and other wildlife.


(Photo: Mario Tama/Getty Images)
Aug 3, 2015
Taylor Hill is an associate editor at TakePart covering environment and wildlife.

 

Delta, the only United States airline that offers direct flights to South Africa, just put up a big roadblock for American hunters hoping to bring home animal trophies.

In a statement sent to TakePart on Monday, Delta said it has banned the transport of lion, leopard, elephant, rhino, and buffalo parts on its flights worldwide.
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“Prior to this ban, Delta’s strict acceptance policy called for absolute compliance with all government regulations regarding protected species,” the airline stated. “Delta will also review acceptance policies of other hunting trophies with appropriate government agencies and other organizations supporting legal shipments.”

The news follows the recent global outcry over the death of Zimbabwe’s Cecil the Lion at the hands of American dentist Walter Palmer. The allegedly illegal hunt of the beloved 13-year-old lion sparked petitions that have garnered more than 1 million signatures, calling for justice for Cecil and stricter protections of Africa’s endangered lions.

“There’s no doubt the news of Cecil definitely has altered the game plan for Delta,” said Chris Green, director of legislative affairs for the Animal Legal Defense Fund. “Walter Palmer is from Minneapolis—the third largest hub in the U.S. for Delta. It’s not unthinkable to assume he would have chosen to carry a national treasure of Zimbabwe’s back to the state on a Delta plane.”
Related
Somebody Put a Camera on a Toy Car and Drove It Into a Pride of Lions

In May, Green started a petition calling for Delta to stop transporting trophies of Africa’s big game wildlife. The petition has attracted 394,000 signatures since then.

Green said the signatures were most likely a key to turning Delta’s position as well. “Imagine if Cecil had been carried on a Delta flight after they had received almost 400,000 signatures calling for a ban on trophy transport—that’s a public relations nightmare,” he said.

Asked whether Cecil’s death or the petition had a role in the trophy ban, Delta spokesperson Morgan Durrant said the corporation had no further comment.

Delta’s joins British Airways, Lufthansa, Emirates, Qantas, Qatar, Etihad, Iberia, Singapore, and Brussels Airlines in banning the transport of big game hunting trophies. Americans constitute 60 percent of oversees big game hunters who travel to Africa each year.

“Most people participate in these hunts to have the chance to bring their trophy home and brag about it—this is one more roadblock for them,” Green said.

 

http://www.takepart.com/article/2015/08/03/delta-bans-trophies-lions-tigers-elephants-flights

LIBOR Scapegoat Found Guilty, Sentenced To 14 Years ~ ZeroHedge


Tyler Durden's picture
Update: Hayes has been sentenced to 14 years in jail.*  *  *

Tom Hayes, the former UBS trader standing trial for his role in manipulating LIBOR, was found guilty on eight counts in a London court. The jury, which deliberated for a week, was unanimous in its decision. To wit, from Bloomberg:

Former UBS Group AG and Citigroup Inc. trader Tom Hayes, the first person to stand trial for manipulating Libor, was found guilty of eight counts of conspiracy to rig the benchmark rate.

After a week of deliberations, jurors unanimously found that the 35-year-old conspired with traders at brokers to dishonestly game the London interbank offered rate to benefit his own trading positions.

As Bloomberg notes, Hayes is the first person to stand trial for rigging the benchmark and had contended that he only pleaded guilty in the first place because he had an intense fear of having to serve a lengthy prison sentence in the US.

Hayes was also quick to remind the court that the practice of gaming the submissions to benefit trading books was so ubiquitous as to be enshrined in an official LIBOR rigging guide called “Guide to Publishing Libor Rates” that was distributed to UBS employees. It was also revealed during the trial that Hayes has been diagnosed with Asperger’s syndrome, which means he tends to “only see the world in black and white” – apparently that was supposed to be seen as a mitigating factor.

In the end, it appears that the public needed a head (not literally we hope), and because prosecuting senior executives for such things is absolutely out of the question even when, as we saw last week with Anshu Jain, they were not only supportive of the practice but in fact physically moved desks around to facilitate it, Hayes will be the fall guy.

Or, as we put it in June: “Will Hayes’ quest to diffuse responsibility and bring down more senior executives with him succeed? Hardly.”

We’ll give Tom the last word here and although we’re not entirely sure what this quote means, we’re sure there’s a lesson in it somewhere:

“I’ve always wanted to do my job as perfectly as I could, whether I was cleaning a deep fat fryer or deboning a chicken. They always gave me those jobs because they knew there would be no chicken left on the bone and no fat left in the fryer.”

 


 

 

Why The U.S. Is the Next Greece: Doug Casey On America’s Economic Problems


Tyler Durden's picture

“With these stupid governments printing trillions and trillions of new currency units,” warns investor Doug Casey, “it’s building up to a catastrophe of historic proportions.” In an excellent brief interview with Reason magazine Editor-in-Chief Matt Welch, Casey expounds on the US noting that “as any institution gets larger and older it inevitably becomes corrupt and fails.” What to do? “I wouldn’t keep significant capital in banks,” he exclaimed, “most of the banks in the world are bankrupt. That didn’t stop the “brain dead” Greeks who left their money in banks as all the signs were on the wall, he notes as he addresses whether gold is a good investment in 2015, and offers back-handed bright side: Catastrophes create many opportunities to earn a profit.

 

Comex On The Edge? Paper Gold “Dilution” Hits A Record 124 For Every Ounce Of Physical


Tyler Durden's picture

Over the few days, we got what was merely the latest confirmation that when it comes to sliding gold prices, consumers of physical gold just can’t get enough.

As the Times of India reported over the weekend, India’s gold imports shot up by 61% to 155 tonnes in the first two months of the current fiscal year “due to weak prices globally and the easing of restrictions by the Reserve Bank. In April-May of the last fiscal, gold imports had aggregated about 96 tonnes, an official said.”

This follows confirmations previously that with the price of gold sliding, physical demand has been through the roof, case in point: “US Mint Sells Most Physical Gold In Two Years On Same Day Gold Price Hits Five Year Low“, “Gold Bullion Demand Surges – Perth Mint and U.S. Mint Cannot Meet Demand“, “Gold Tumbles Despite UK Mint Seeing Europeans Rush To Buy Bullion” and so on. Indicatively, as of Friday, the US Mint had sold 170,000 ounces of gold bullion in July: the fifth highest on record, and we expect today’s month-end update to push that number even higher.

But while the dislocation between demand for physical and the price of paper gold has been extensively discussed here over the years, most recently in “Gold And The Silver Stand-Off: Is The Selling Of Paper Gold And Silver Finally Ending?”, something unexpected happened at the CME on Friday afternoon which may be the most important observation yet.

Recall that in the middle of 2013, in an extensive series of articles, we covered what was then a complete collapse in Comex vaulted holding of registered (i.e., deliverable) gold.  At the time the culprit was JPM, where for some still unexplained reason, the gold held in the newest Comex’ vault plunged by nearly 2 million ounces in just six short months.

More importantly, the collapse in registered Comex gold sent the gold coverage ratio (the number of ounces of “paper” gold open interest to the ounces of “physical” registered gold) soaring from under 20 where, or roughly in line with its long-term average, to a whopping 112x. This means that there were a total of 112 ounces of claims for every ounces of physical gold that could be delivered at any given moment.

Gradually, the Comex raid was relegated to the backburner when starting in 2014 the amount of registered gold tripled from the upper 300k range to 1.15 million ounces one year ago, at which point the slide in Comex registered gold started anew.

Which brings us to Friday afternoon, also known as month end position squaring, when in the latest daily Comex gold vault depository update we found that while some 270K in Eligible gold had been withdrawn mostly from JPM vaults, what caught our attention was the 25,386 ounces of Registered gold that had been “adjusted” out of registered and into eligible. As a reminder, eligible gold is “gold” that can not be used to satisfy inbound delivery requests without it being converted back to registered gold first, which makes it mostly inert for delivery satisfaction purposes.

 

Most importantly, this 25,386 oz reduction in deliverable Comex gold from 376,906 on Thursday pushed the amount of registered Comex gold to an all time low: at 351,519 ounces, or just barely over 10 tons, registered Comex gold has never been lower!

 

Incidentally, as part of the month-end redemption requests, we saw a whopping 22% of the eligible gold in Kilo-bar format (where there is no registered, just eligible) be quietly whisked away from Brink’s vaults: unlike traditional ounce-based contracts, the kilo format traditionally serves as an indication of Chinese demand, and if withdrawals on par with those seen on July 31 persist, it will soon become clear that Chinese buyers are once again scrambling for the safety of gold now that their stock market bubble has blown up.

This covers the sudden surge in demand for physical gold as manifested by CME data.

Meanwhile, over in “paper gold” land, things remained unchanged: as shown in the chart below, the aggregate gold open interest rose modestly to 43.5 million ounces up from 42.9 million the day before.

 

While on its own, gold open interest – which merely represents the total potential claims on gold if exercised – is hardly exciting, as we have shown previously it has to be observed in conjunction with the physical gold that “backs” such potential delivery requests, also known as the “coverage ratio” of deliverable gold.

It is here that things get a little out of hand, because as the chart below shows, all else equal, the 43.5 million ounces of gold open interest and the record low 351,519 ounces of registered gold imply that as of Friday’s close there was a whopping 123.8 ounces in potential paper claims to every ounces of physical gold.

This is an all time record high, and surpasses the previous period record seen in January 2014 following the JPM gold vault liquidation.

Another way of stating this unprecedented ratio is that the dilution ratio between physical gold and paper gold has hit a record low 0.8%.

Indicatively, the average paper-to-physical coverage ratio since January 1, 2000 is a “modest” 19.1x. As of Friday it had soared to more than 6 times greater.

Which brings us to the usual concluding observations:

First: as we have said previously, at a time when all the gold selling (and naked shorting) is in the paper markets and when demand for physical gold is once again off the charts, with soaring purchases not only in India but also in the US, where is this gold going? Clearly not into CME gold vaults, which are once again a source of physical gold, and as the above shows, have never had less deliverable gold.

Second, total Comex gold has dropped to such precarious levels in the past and while on many occasions market observers have asked if the Comex is close to a failure to deliver, aka a default of the CME’s gold warehouse, it has always avoided such a fate. Still, one wonders: the 10+ tons of deliverable gold at the Comex are now worth a paltry $383 million. It would not be very complicated for a next generation “Hunt Brother” to buy some $400 million in Comex gold, and promptly demand delivery: after all the gold crash of two weeks ago saw some $2.7 billion in paper gold dumped in the most illiquid market – why can’t it be done in reverse. What would happen next is unknown, but unless somehow the Comex found a way of converting millions of ounces of Eligible gold into Registered, the CME would simply be unable to satisfy such a delivery request.

Third: while there are still over 7 million ounces of Eligible gold, why the recent spike in “adjustments” of eligible to registered gold (i.e., missing a warehouse receipt)?

Finally, we assume the mainstream press will once again start paying close attention to the total, and especially registered, gold held at the Comex: at a pace of 25K a day, the gold vaults that make up the CME’s vaulting system would be depleted in just under two weeks of daily withdrawals.

In any case, we are very curious to see how this latest dramatic face off in the long-running war between paper and physical gold, concludes.

http://www.zerohedge.com/news/2015-08-03/comex-edge-deliverable-gold-drops-record-low-124-ounces-paper-every-ounce-physical

Monsanto Herbicide in GMO Crops is Carcinogenic: World Health Organization’s Full Report


While the World Health Organization’s International Agency for Research on Cancer (IARC) is not a regulatory agency, their release of a full report on glyphosate’s ability to cause cancer is making waves throughout the world. Glyphosate is the key component in Monsanto’s Roundup.

There are more than 750 products for sale in the USA alone which contain glyphosate, the main ingredient in Monsanto’s herbicide that has been selling since the 1970s.

The agency is comprised of an international review board which determined that glyphosate is indeed carcinogenic. Considering that more than ‘80% of the biotech-created GM crops’ throughout the world were manufactured to be used with this herbicide – it would logically follow that the majority of our food supply is now contaminated by a cancer-causing agent(s).

Following the release of the report, the country of Sri Lanka decided to ban glyphosate completely, and other countries are considering a similar move. Is this information just too much to swallow for more immediate action to follow, or have governments been infiltrated so completely by biotech that the announcement that most of our food is covered in poison will simply be ignored?

The National Pesticide Information Center has done nothing to update its website to inform citizens that the IARC has declared that this herbicide is carcinogenic.

In fact, they instead post the following, word for word:

“Is glyphosate likely to contribute to the development of cancer?

Animal studies have not shown evidence that glyphosate exposure is linked to cancer. Studies with people have also shown little evidence that exposure to glyphosate products is linked with cancer.”

This is an outrageous lie that should be removed immediately – but it won’t be because we are dealing with an industry which regulates itself. Unless people around the world take massive, grass-roots action, instead of waiting on their governments to respond, Monsanto and the biotech industry will continue to sell known cancer-causing agents.

http://www.globalresearch.ca/monsanto-herbicide-in-gmo-crops-is-carcinogenic-world-health-organizations-full-report/5466690

TPP Ministerial Deadlock.”Good News for People on the Planet”. Worldwide Opposition to Trade Deal


http://www.globalresearch.ca/tpp-ministerial-deadlock-good-news-for-people-on-the-planet-worldwide-opposition-to-trade-deal/5466469

World’s Largest Animal Sacrifice Festival–CANCELLED! ~ TheLipTV


The Gadhimai festival, which is said to be the world’s largest animal sacrifice event has been cancelled after widespread concern over the slaughter of hundreds of thousands of creatures. With animal rights activists protesting the proceedings, which take place at the Gadhimai Temple in Nepal near the Indian border, the festival is on hold as they prepare a potential bloodless alternative to be staged in five years for the next scheduled gathering.
http://time.com/3976234/nepal-gadhima…

Newest Lip News playlist:
https://www.youtube.com/watch?v=eH0bI…

BUZZSAW interview clips:
https://www.youtube.com/watch?v=4cbdB…

CRIME TIME clips playlist:
https://www.youtube.com/watch?v=krB8h…

BYOD (Bring Your Own Doc) Highlight Videos:
https://www.youtube.com/watch?v=JtWTi…

MEDIA MAYHEM short videos playlist:
https://www.youtube.com/watch?v=izk1x…

https://www.facebook.com/thelip.tv

http://www.youtube.com/theliptv

BUZZSAW: 2015 Bilderberg Conference Review: Collapse and False Flags with Daniel Estulin ~ TheLipTV


Nice find Keri! Reblogged from https://followingworldchange.wordpress.com

The 2015 Bilderberg conference is discussed with Daniel Estulin, who explores how the group is facing declining influence and hedging their bets against a global economic collapse. The tools of false flags and unrest that are being employed by the world’s elite, as well as the upcoming documentary on the Bilderbergs, and the possible catastrophic outcomes of the Iran Nuclear deal are explored. Learn about the Tavistock house, the growing power of the BRIC alliance, and if deindustrialization and population control are on the agenda of the elite in this Buzzsaw interview, hosted by Sean Stone.

GUEST BIO:
Daniel Estulin is an award winning investigative journalist and bestselling author of The True Story of the Bilderberg Group, published in 59 countries and translated into 34 languages. He was featured on Jesse Ventura’s Conspiracy Theory television show. He is currently the host of RT TV show, DESDE LA SOMBRA, and has a new documentary on the Bilderberg Group.

Chris Martenson “$40 Trillion Lost in Next Crash” ~ USA Watchdog Greg Hunter


Economic researcher Chris Martenson, who also holds an earned PhD in Toxicology, says watch China because the recent signs are not good. Martenson contends, “You get your early signals from the place that is closest to the true economic action, and China is the center of that. So, to me, watching commodities tank first, gyrations in the Chinese stock market second, says third, you better be prepared for a big deflationary event or a big crash. . . . This is the mother of all crashes because the crash of 2008 was actually a side show. . . . We are going to discover that, like all bubbles, you return from where you started. . . . That means $40 trillion will have to get wiped out in the U.S. market alone.”
Economic researcher Chris Martenson, who also holds an earned PhD in Toxicology, says watch China because the recent signs are not good. Martenson contends, “You get your early signals from the place that is closest to the true economic action, and China is the center of that. So, to me, watching commodities tank first, gyrations in the Chinese stock market second, says third, you better be prepared for a big deflationary event or a big crash. . . . This is the mother of all crashes because the crash of 2008 was actually a side show. . . . We are going to discover that, like all bubbles, you return from where you started. . . . That means $40 trillion will have to get wiped out in the U.S. market alone.”

Join Greg Hunter as he goes One-on One with Dr. Chris Martenson of PeakProsperity.com.

All links can be found in the “After the Interview” section of USAWatchdog.com http://usawatchdog.com/vicious-out-of…
Join Greg Hunter as he goes One-on One with Dr. Chris Martenson of PeakProsperity.com.

All links can be found in the “After the Interview” section of USAWatchdog.com http://usawatchdog.com/vicious-out-of…

Bix Weir: “You Don’t Own What You THINK You Own” SGTreport.com


Bix Weir from Road to Roota joins us for another wake up call. As hard as it is for some folks to understand, when it come to the stock market, and even your own home, you may not own what you think you own.

According to Zero Hedge, annual ETF trading has eclipsed the entire US GDP. That’s more than $18.2 TRILLION in annual trading volume on ETF assets which total a mere $2.1 TRILLION — further evidence that the “markets” are nothing more than a Ponzi scheme.

But it gets worse. Recounting the massive and blatant criminality of Wall Street, Bix reminds us the on a daily basis BILLIONS of shares are traded back and forth, and millions of those shares go unsettled. The DTCC is essentially a $19 TRILLION private bank which most people have never heard of. The DTCC is charged with settling all daily stock trades within three days, but because of computer and HFT trading the sheer volume of daily trading makes proper settlement virtually impossible. Adding to the confusion is the fact that CEDE & Co. is the secret entity behind the scenes which “owns” all of the shares. So when the system finally implodes you are likely to learn that you don’t own what you think you own.

For REAL News & Information 24/7:
http://sgtreport.com/
http://thelibertymill.com/

Music: “The Complex”
(http://www.incompetech.com) Licensed under Creative Commons “Attribution 3.0″ http://creativecommons.org/licenses/b…

The content in my videos and on the SGTbull07 – SGTreport.com channel are provided for informational purposes only. Use the information found in my videos as a starting point for conducting your own research and conduct your own due diligence (DD) BEFORE making any significant investing decisions. SGTbull07 – SGTreport.com assumes all information to be truthful and reliable; however, I cannot and do not warrant or guarantee the accuracy of this information. Thank you.

Washington’s fifth columns inside Russia and China ~ Paul Craig Roberts


© AFP 2015/Philippe Lopez

It took two decades for Russia and China to understand that “pro-democracy” and “human rights” organizations operating within their countries were subversive organizations funded by the US Department of State and a collection of private American foundations organized by Washington. The real purpose of these non-governmental organizations (NGOs) is to advance Washington’s hegemony by destabilizing the two countries capable of resisting US hegemony.

Washington’s Fifth Columns pulled off “color revolutions” in former Russian provinces, such as Georgia, the birthplace of Joseph Stalin and Ukraine, a Russian province for centuries.

When Putin was last elected, Washington was able to use its Fifth Columns to pour thousands of protesters into the streets of Russia claiming that Putin had “stolen the election.” This American propaganda had no effect on Russia, where the citizens back their president by 89%. The other 11% consists almost entirely of Russians who believe Putin is too soft toward the West’s aggression. This minority supports Putin as well. They only want him to be tougher.

The actual percentage of the population that Washington has been able to turn into treasonous agents is only 2-3 percent of the population. These traitors are the “Westerners,” the “Atlantic integrationists,” who are willing for their country to be an American vassal state in exchange for money. Paid to them, of course.

But Washington’s ability to put its Fifth Columns into the streets of Moscow had an effect on insouciant Americans and Europeans. Many Westerners today believe that Putin stole his election and is intent on using his office to rebuild the Soviet Empire and to crush the West. Not that crushing the West would be a difficult thing to do. The West has pretty much already crushed itself.

China, obsessed with becoming rich, has been an easy mark for Washington. The Rockefeller Foundation is supporting pro-American Chinese professors in the universities. US corporations operating in China create superfluous “boards” to which the relatives of the ruling political class are appointed and paid high “directors’ fees.” This compromises the loyalty of the Chinese ruling class.

Hoping to have compromised the Chinese ruling class with money, Washington then launched its Hong Kong NGOs in protests, hoping that the protests would spread into China and that the ruling class, bought with American money, would be slow to see the danger.

Russia and China finally caught on. It is amazing that the governments of the two countries that Washington regards as “threats” were so tolerant of foreign-financed NGOs for so long. The Russian and Chinese toleration of Washington’s Fifth Columns must have greatly encouraged the American neoconservatives, thus pushing the world closer to conflict.

But as they say, all good things come to an end. The Saker reports that China finally has acted to protect itself from Washington’s subversion. Russia, also, has acted in her defense, kicking out Washington’s “National Endowment for Democracy“.

We Americans need to be humble, not arrogant. We need to acknowledge that American living standards, except for the favored One Percent, are in long-term decline and have been for two decades. If life on earth is to continue, Americans need to understand that it is not Russia and China, any more than it was Saddam Hussein, Gaddafi, Assad, Yemen, Pakistan, and Somalia that are threats to the US. The threat to the US resides entirely in the crazed neoconservative ideology of Washington’s hegemony over the world and over the American people.

This arrogant goal commits the US and its vassal states to nuclear war.

If Americans were to wake up, would they be able to do anything about their out-of-control-government? Are Europeans, having experienced the devastating results of World War I and World War II, capable of understanding that the incredible damage done to Europe in those wars is minuscule compared to the damage from nuclear war?

If the EU were an intelligent and independent government, the EU would absolutely forbid any member country from hosting a US anti-ballistic missile or any other military base anywhere close to Russia’s borders.

The Eastern European lobby groups in Washington want revenge on the Soviet Union, an entity that is no longer with us. The hatred transmits to Russia. Russia has done nothing except to have failed to read the Wolfowitz Doctrine and to realize that Washington intends to rule the world, which requires prevailing over Russia and China.

http://www.sott.net/article/299704-Washingtons-fifth-columns-inside-Russia-and-China

Hysterics! Adult with chicken pox prompted lockdown at Danville, Kentucky hospital


© WKYT

Ephraim McDowell Regional Medical Center in Danville says a patient who tested positive for two strains of adult chicken pox is what prompted a lockdown at the facility Saturday evening.

In a news release, the medical center says it was determined that isolation of the patient was appropriate. Because of the lockdown, other patients and visitors were contained until additional testing could be completed.

To assure that there was no risk to the community, the medical center says it worked closely with local and state health officials and the Center for Disease Control.

CDC Spokeswoman Bernadette Burden confirmed to WKYT the center received a call from the Kentucky State Health Department about the patient on Saturday.

The hospital started releasing patients and staff who did not have direct contact with the patient, out of the emergency room around 7 p.m. Saturday.

Incoming patients were diverted to area hospitals.

See VIDEO

Cecil the Lion killer Walter Palmer FINALLY contacts authorities after days of silence


THE American dentist who killed the beloved Zimbabwean lion ‘Cecil’ has finally contacted authorities in the US, it has been confirmed.

Cecil the lion with brother Jericho before he was killed by Walter Palmer

CATERS•ENTERPRISE NEWS AND PICTURES

Cecil the lion with brother Jericho before he was killed by Walter Palmer

Walter Palmer, who sparked international outrage when he shot dead the lion while on a hunting trip in Africa, “voluntarily” reached out to the US Fish and Wildlife Service Office of Law Enforcement (FWS) after remaining silent for two days.

On Thursday, the FWS said it had launched an investigation into the hunting trip, although Mr Palmer has not been charged with a crime and claims he trusted local guides to obtain necessary permits.

U.S. Fish and Wildlife Director Dan Ashe said that efforts to contact Palmer had previously been unsuccessful and that the agency had urged him on Twitter to get in touch.

Now the FWS confirmed a representative for the dentist has contacted the service on his behalf.

“We were voluntarily contacted by a rep of Dr. (Walter) Palmer,” said a tweet from the agency.

“We appreciate the cooperation, investigation is ongoing.”

Officials in Zimbabwe are appealing for the 55-year-old’s extradition to the country, where he could face a fine of £13,000 and up to a decade behind bars.Cecil’s young cubs are now being looked after by his brother Jericho as fears grow they could fall victim to an aggressive rival male lion.Wildlife experts believe a rival would want Cecil’s offspring dead so that the next lion in the hierarchy could father his own cubs with the females in the pride.

American dentist Dr Walter Palmer

ENTERPRISE NEWS AND PICTURES

Palmer paid about $50,000 (£32,000) to go on the hunt

It comes as concerns grow over the safety of Cecil’s cubs, who are under threat from rivalmales now their father is dead.Researchers with Oxford University’s Wildlife Conservation Unit say that so far they have seen Cecil’s brother protecting the young.David Macdonald, a member of the British team, said: “The natural law in lion society is that when a male dies and his weakened coalition is usurped, the new incoming males kill their predecessors’ cubs.

“This may not happen because Cecil’s brother is still holding the fort.”

Separately, it has emerged the disgraced hunter boasted to a barmaid that he had killed the “world’s biggest lion”.In a sickening twist, Mr Palmer allegedly used photos of the slain animal in a bar in his home state of Minnesota to impress the waiting staff.The woman, who referred to herself as Danielle, said he claimed he had broken records by killing the creature when he visited Doolittle’s Woodfire Grill in Alexandria last month.

Big game hunter Dr Walter Palmer, a dentist from Minneapolis, Minnesota

TIM STEWART NEWS

Big game hunter Mr Palmer has killed dozens of animals

Mr Palmer’s wife, Tonette, has reportedly held as many as SEVEN licences allowing her to fish in Florida and hunt in Alaska.It has also been reported that the dentist’s office at his surgery in Bloomington, Minnesota, has a display of stuffed heads of dead animals.A friend told MailOnline: “He had animal heads in his personal office and animal print flooring.”

As Zimbabwe continues its appeal for the US dentist’s extradition, the White House said it willreview a petition to send Mr Palmer back to Africa to face charges.However, the US has not extradited anyone to the Republic of Zimbabwe since the extradition treaty took effect in 2000.Two Zimbabweans – a professional hunter and a farm owner – have been arrested in the killing of the lion, but Mr Palmer has so far avoided any charges.

It comes as American rock star Ted Nugent came out in support of the lion killer.

In a radio interview in New York, the singer railed against people who are upset about the killing, saying the outrage is because the lion was given a name.

See VIDEO
http://www.express.co.uk/news/world/595359/Cecil-lion-killer-Walter-Palmer-contacts-authorities-fears-welfare-cubs

The Greek Crisis – What You’re Not Being Told


Reblogged from FollowingWorldChange.wordpress.com

Published on Jul 7, 2015

There are several important variables to the Greek debt crisis that most people aren’t talking about.
Sources and transcript: htttp://stormcloudsgathering.com/the-gre­ek-crisis-what-youre-not-being-told

Furious Americans Demand Extradition Of Cecil-Killing Dentist As Poachers Kill Lion’s Brother ~ ZeroHedge


Tyler Durden's picture

Update: The status of Cecil’s brother is now the subject of a “dispute” between conservationists.

*  *  *

There’s a lot going on in the world, but you wouldn’t know it if you tuned in to the nightly news because according to the mainstream media, the only thing that happened anywhere last week is that a dentist shot a lion.

(Cecil the lion is the one on the right)

That’s right folks, Walter killed Cecil and some folks – scratch that – a lot of folks are unhappy about it.

In fact, hundreds of protesters papered Dr. Palmer’s office with subtle messages like “rot in hell” and “there’s a deep cavity waiting for you.”

VIDEO:

http://video-api.wsj.com/api-video/player/iframe.html?guid=09503634-A315-494D-A4BC-3E476D2A47C4

As Reuters reports, Cecil’s untimely demise has the potential to put a dent in a lucrative industry by leaving a bad taste in the mouths of big game hunters, who may now hesitate before participating in this “archaic bloodsport”. Here’s more:

Hunters longing to shoot big game in the African wild may choose a different target after public backlash against a Minnesota dentist who killed Zimbabwe’s Cecil the lion just outside a national wildlife preserve.

African hunts are booked months in advance and pricey affairs, often costing $8,000 to $50,000, with approval needed from U.S. and U.N. agencies to bring back trophies such as the head of a lion to the United States.

“It has left a bad taste in their mouths,” said James Jeffrey, a Houston-based international hunting agent with more than 12 years experience.

“They read all those books and it is people’s dreams to go over there and do it. Some of these guys have worked their whole lives to do this one hunt,” he said.

Eleven African countries issue lion hunting permits. Of them South Africa’s hunting industry is the biggest, worth $675 million, according to the Professional Hunters Association.

Americans make up the bulk of non-African hunters, with 15,000 going to the continent on hunting safaris each year, according to John Jackson, president of Conservation Force, a lobby group that says regulated lion hunting helps protect the animal by giving reserve owners a financial incentive to deter poachers and cultivate stock.

Supporters argue the money generated from hunts bolsters the coffers for conservation in emerging African countries that want to use their limited finances for social programs.

Critics see the hunts as an archaic bloodsport, hurting species such as lions, which an academic study in 2012 said had seen a population fall of nearly 70 percent in the last 50 years.

In response to the killing, Zimbabwe has now put a halt to big game hunts pending an investigation. From AP:

Zimbabwean wildlife authorities say they have suspended the hunting of lions, leopards and elephants in an area favoured by hunters following the killing of a lion popular with tourists.

The National Parks and Wildlife Authority said Saturday that bow and arrow hunts have also been suspended unless they are approved by the authority’s director.

The authority says it is also investigating the killing of another lion in April that may have been illegal. It says it only received the information this week.

And don’t expect the controversy to dissipate any time soon because in what is either a deliberate attempt on the part of an enterprising poacher to capitalize off the incident or else an incredibly ill-timed coincidence, Cecil’s brother Jericho was killed today by hunters. Here’s Sky News:

The brother of Cecil the lion, Jericho, has been shot dead by poachers, the Zimbabwe Conservation Task Force has said.

The organisation wrote on Facebook: “It is with huge disgust and sadness that we have just been informed that Jericho, Cecil’s brother, has been killed at 4pm today.

“We are absolutely heart broken.”

It is thought Jericho had been protecting Cecil’s cubs.

And because the story obviously needed to get sadder still, those cubs will now likely die as well.

Via The Daily Mail:

Before his death there had been concerns Jericho would not be able to hold the territory of Cecil’s cubs alone and could be chased away by rival lions. 

Unprotected, the lionesses and cubs are now under threat and [must] move away or be killed.

Last week Mr Rodrigues, told the Daily Mail Online Jericho was keeping the cubs safe from any rival males.

 

(Jericho and Cecil in better times)

As for Palmer, Zimbabwe is looking to have the dentist extradited from the US. “Environment minister Oppah Muchinguri said the dentist should be handed over to Zimbabwean officials to face justice, adding that she understood prosecutors had started the legal process to make that happen,” the Daily Mail notes.

And for anyone who thinks getting Palmer sent back to Zimbabwe will be like pulling teeth (so to speak), the public outcry may end up pressuing The White House into action, because as you can see from the screengrab below, a peitition to have Palmer extradicted has received the necessary number of signatures to warrant a response from The President:

 

 

So in the end, we suppose the only question for Obama will be how to explain the fact that, as we reported on Thursday, the death of Cecil, as well as countless other lions, elephants, rhinos and other animals, is solely as a result of the Zimbabwe government’s corruption. A corruption, which the US government knew all about, and despite the fact that Washington knew US hunters were killing not only elephants but lions, the government’s only real concern was the “serious risks that Americans could be implicated in smuggling and poaching operations.”

http://www.zerohedge.com/news/2015-08-01/furious-americans-demand-extradition-cecil-killing-dentist-poachers-kill-lions-broth

Ed. Note: To add balance to this heartbreaking and polarizing tragedy, it’s my impression Cecil and Dr. Patterson had soul contracts to awaken the human collective to the insanity of trophy hunting, canned safari’s and political corruption in smuggling and poaching operations…Cecil transitioned for the Greater Good of the next Seven Generations. 

On a good note, Jericho’s alive and well!!

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